Anchor Capital Advisors LLC Sells 445 Shares of Everest Group, Ltd. (NYSE:EG)

Anchor Capital Advisors LLC cut its position in shares of Everest Group, Ltd. (NYSE:EG) by 7.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,946 shares of the company’s stock after selling 445 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Everest Group were worth $2,364,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Forsta AP Fonden lifted its holdings in Everest Group by 131.1% during the 1st quarter. Forsta AP Fonden now owns 17,100 shares of the company’s stock worth $6,797,000 after purchasing an additional 9,700 shares during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in Everest Group by 0.6% during the 1st quarter. Illinois Municipal Retirement Fund now owns 24,238 shares of the company’s stock worth $9,635,000 after purchasing an additional 152 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Everest Group by 42.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 6,356 shares of the company’s stock worth $2,527,000 after purchasing an additional 1,894 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Everest Group during the 1st quarter worth approximately $6,583,000. Finally, TFB Advisors LLC lifted its holdings in Everest Group by 104.1% during the 1st quarter. TFB Advisors LLC now owns 1,782 shares of the company’s stock worth $659,000 after purchasing an additional 909 shares during the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on EG shares. Bank of America raised their price objective on Everest Group from $470.00 to $493.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley lowered their price objective on Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Keefe, Bruyette & Woods lowered their price objective on Everest Group from $457.00 to $454.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Wells Fargo & Company decreased their price target on Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $437.40.

Everest Group Price Performance

EG traded up $15.34 during trading on Monday, reaching $396.98. The stock had a trading volume of 233,395 shares, compared to its average volume of 324,339. The stock has a market cap of $17.25 billion, a PE ratio of 5.88, a PEG ratio of 1.96 and a beta of 0.63. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.38 and a current ratio of 0.38. Everest Group, Ltd. has a one year low of $343.36 and a one year high of $417.92. The business has a 50-day moving average of $380.59 and a 200-day moving average of $375.91.

Everest Group (NYSE:EG) last released its earnings results on Monday, April 29th. The company reported $16.32 EPS for the quarter, beating analysts’ consensus estimates of $15.98 by $0.34. The business had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. The firm’s revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $11.31 earnings per share. As a group, equities research analysts anticipate that Everest Group, Ltd. will post 61.49 EPS for the current fiscal year.

Everest Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 29th were paid a dividend of $2.00 per share. This is a boost from Everest Group’s previous quarterly dividend of $1.75. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Wednesday, May 29th. Everest Group’s dividend payout ratio (DPR) is 11.89%.

Everest Group Company Profile

Everest Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally. The company operates through two segment, Insurance and Reinsurance. The Reinsurance segment writes property and casualty reinsurance; and specialty lines of business through reinsurance brokers, as well as directly with ceding companies in the United States, Bermuda, Ireland, Canada, Singapore, Switzerland, and the United Kingdom.